Compound Management Market Size, Share & Trends Analysis Report By Type (Products, Service), By Sample Type (Chemical Compounds, Bio Samples), By Application, By End Use, By Region, And Segment Forecasts, 2023 - 2032

Report Overview
The global compound management market size was valued at USD 410.1 million in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 15.6% from 2023 to 2032. Some of the important drivers propelling the market are rising drug discovery efforts, expansion in the pharmaceutical and biotechnology sectors, and rising demand for outsourcing these services. In recent years, there has been an obvious increase in the medication pipeline. In 2020, there were 17,737 pharmaceuticals in the R&D pipeline, and in 2022, there were 20,109 drugs in the pipeline, according to Pharma R&D annual review 2022. The market is anticipated to benefit from the expanding medicinal pipeline. The majority of COVID-19 medications and vaccines were in development during the pandemic. However, according to the Pharma R & D annual assessment for 2022, the two main pharmaceuticals in development at the time were biotechnology and anticancer medications. Due to the increased demand for biotechnology and anticancer medications worldwide, the drug pipeline for these substances is anticipated to improve in the upcoming years. In the post-pandemic period, this is anticipated to enhance demand for compound management of biotechnology and anticancer medications.

Compound collection management is made simpler, sample integrity is guaranteed, and turnaround times for samples are sped up through automated storage options. Additionally, novel high-throughput screening methods are now supported by advancements brought about by new automated sample management technology. Fully automated techniques that eliminate time-consuming and error-prone steps from the drug development process include assay plate preparation, molecular weighing and dissolution, and library management.

Market Overview
Compound Management includes all aspects of managing chemical libraries, including robotic chemical retrieval, storage environment quality monitoring, databases that update chemical information, and restoring out-of-date compounds. Compound Control is another term for compound management. Effective compound management is the most crucial component for the success of drug discovery, where the fundamentals are traceable, dependable, speed, and throughput. The market for compound management is being driven by the expansion of the biobanking or biopharmaceutical sectors. Due to outsourcing tasks to CROs and CMOs, the majority of biotech and biopharma companies concentrate on core operations.

The presence of high integrity chemicals makes the location of therapeutic candidates reliable. Human biological sample collection, storage, and distribution are essential to the growth of the R&D sector. Maintaining samples at the right temperature, in nitrogen or dry air to limit changes in stock concentrations, and in a dark environment to ward against photodegradation can boost sample consistency and lifetime. Due to the advancement of high-throughput screening methods, compound management is now more important than ever. Compound management entails efficiently keeping chemical libraries and biological samples to enhance the purity, safety, shelf life, and other crucial features of samples.

Market Dynamics
Prices and stakeholder behaviour are both impacted by market dynamics. Pricing signals are created when the supply and demand curves for a particular good or service change. Drug development is a very time-consuming, expensive, and difficult procedure because the drug discovery process is checked using a variety of advanced techniques. Growing pharmaceutical R&D and new drug development projects, rising pharmaceutical sample collection, storage, and transportation activities, rising demand for compound management outsourcing services, and growing research collaborations between top pharmaceutical companies are the main factors expected to drive the global compound management market revenue over the forecast period. The increasing need for entirely automated compound management systems is another prominent element that is projected to significantly contribute to the growth of the global market's revenue.

It is anticipated that a lack of skilled labour and high investment prices will impede market expansion. Due to investments in hardware and software, including the installation of modern automated liquid compound storage systems coupled to a sizeable inventory database, a compound/sample management facility requires a sizable amount of capital. For instance, the price of a largely automated storage system is between US$1 million and US$10 million.

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Market Segmentations:
Global Compound Management Market: By Types
Automated Storage
Decapper
Software

Global Compound Management Market: By Applications
Biopharma Companies
Biobank
Pharma Companies
CRO
Other

By Region
North America
U.S.
Canada
Europe
Germany
France
U.K.
Italy
Russia
Nordic
Rest of Europe
Asia-Pacific
China
Japan
South Korea
Southeast Asia
India
Australia
Rest of Asia
Latin America
Mexico
Brazil
Rest of Latin America
Middle East & Africa
Turkey
Saudi Arabia
UAE
Rest of MEA

Global Compound Management Market: Top Key Players
Brooks Life Sciences
Tecan
Hamilton Company
TTP Group
Labcyte
Biosero
TTP Group

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COVID-19 Impact
A number of healthcare facilities were impacted by the COVID-19 outbreak. The Compound Management Market was also greatly affected. Transportation and logistics were hampered by lockdowns. Technological advancement, cost control, and expanded access will all play a significant role in healthcare improvements in the near future. Telehealth and digital health are the front-runners. Due to COVID-19, the significance of remote diagnosis, care, and consultation is once again stressed. But since so many healthcare professionals operate via phone and video conferencing, this market's growth is expected to multiply several times over the coming years. The pressure on hospitals, which were already overloaded with COVID-19 patients, has been significantly lessened by the online consultation of patients with moderate symptoms.

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Frequently Asked Questions About This Report
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